Verenium buys back $5.2 million of 5.5% notes, $3 million of 9% notes

By Toni Weeks

San Diego, July 28 - Verenium Corp. has repurchased about $8.2 million of its outstanding convertible notes, according to a press release.

The company repurchased $5.2 million of its 5.5% notes and $3 million of its 9% notes. To effect the repurchase, the company paid a total of $7.7 million in cash, excluding interest, to a single institutional investor.

Following the repurchase, a total of $36 million amount of the 5.5% and 9% notes remains outstanding.

San Diego-based Verenium is an industrial biotechnology company focusing on developing high-performance enzymes to make products and processes more cost-effective and environmentally friendly for the food and fuel industries.

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